When you’re a company with the size and influence of Amazon, you’ve got options. And when it comes time to scout locations for a second headquarters, you’d be a fool not to play the field.

Amazon on Thursday said it was doing just that – considering locations for a second headquarters to rival its existing facility in Seattle. The project could cost upwards of $5 billion to build but would bring as many as 50,000 “high-paying” jobs to whichever lucky community is selected.

Dubbed Amazon HQ2, the facility would also create tens of thousands of additional jobs and tens of billions of dollars in further investment in the surrounding community.

In Seattle, for example, Amazon estimates its investments from 2010 through 2016 have resulted in an additional $38 billion to the city’s economy. According to the company, every dollar invested in Amazon in Seattle has generated an additional 1.4 dollars for the city’s economy.

Amazon is now accepting proposal requests and has identified the following preferences in choosing a location:

  • Metropolitan areas with more than one million people
  • A stable and business-friendly environment
  • Urban or suburban locations with the potential to attract and retain strong technical talent
  • Communities that think big and creatively when considering locations and real estate options

Amazon adds that the project could be, but does not have to be:

  • An urban or downtown campus
  • A similar layout to Amazon’s Seattle campus
  • A development-prepped site. We want to encourage states and communities to think creatively for viable real estate options, while not negatively affecting our preferred timeline.

Amazon didn’t supply a timeline for proposals or the project in general although given its scope, I would expect it to take several years to complete.